Nearly Half of Homes With Planning Permission Have Yet to be Built
LONDON, October 1, 2014 /PRNewswire/ --
Figures released today (1st October) reveal that, while 238,000 homes received planning permission last year, only 129,000 units actually started construction in the same period.
Data from Barbour ABI, the chosen provider of the Government's Construction and Infrastructure Pipeline, shows that 238,000 homes were granted planning permission from September 2013 to August 2014, with contracts awarded accounting for 129,000 units.
This indicates a significant disparity between planning permissions and builds starting on site, following the unveiling of two new housing schemes announced by Communities Secretary, Eric Pickles, at the Conservative Party Conference this week.
The data also highlighted London and the South East's dominance over house building activity, with both regions combined accounting for nearly a third (29%) of all planning permissions in the residential sector. The North West and South West were not far behind with 12 per cent and 11 per cent respectively, and house building at its lowest in the North East (5 per cent) and Wales (3 per cent).
On the findings of the data, Michael Dall, lead economist at Barbour ABI, commented: "These latest figures clearly indicate that, while there are potentially enough homes in the pipeline to meet the Labour Party's target of delivering 200,000 affordable homes a year by 2020, more needs to be done to get work underway so that the overall number of new homes being built can continue to increase."
About Barbour ABI:
Barbour ABI is a leading provider of construction intelligence services. With a team of in-house research specialists and a dedicated lead economist, it provides commercially relevant insight and unique analysis of trends and developments within the building and construction industry.
Barbour ABI is the chosen provider of Construction New Orders data to the Office for National Statistics and the Government's Construction and Infrastructure Pipeline, outlining future construction and infrastructure projects where public funding is agreed. Barbour ABI also provides data for independent organisations, such as the Construction Products Association.
Barbour ABI is part of global events-led marketing services and communications company, UBM, and is headquartered in Cheshire Oaks, Cheshire.
UBM helps businesses do business, bringing the world's buyers and sellers together at events and online, as well as producing and distributing news and specialist content. Its 5,500 staff in more than 30 countries are organised into expert teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently.
SOURCE Barbour ABI
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